KBank warns the public of financial crimes

          As part of its effort to promote awareness to combat rampant financial frauds, KASIKORNBANK (KBank) has launched the #UpdateSATIToProtectSATANG campaign in order to warn people of financial scams which caused over 31 billion Baht in losses to victims in the past year. Members of the public and various agencies are invited to join forces in disseminating relevant information to foster a society that is watchful against swindlers who go to any length to fool their victims. KBank has thus released a video clip to raise public awareness of three commonly perpetrated scams in order to avoid falling prey to fraudsters, losing money or even being caught up in a lawsuit. These scams include: (1) money-stealing apps; (2) loan broker scams; and (3) fraudsters' use of nominees to open bank accounts, or “mule" accounts. The Bank has also launched a dedicated website, https://kbank.co/41NmBTW to serve as online guide to various forms of financial scams where the public can find information of the newest fraud tactics. Interested organizations are welcome to download the information for free.


          Mr. Pipit Aneaknithi, KBank President, said, “These days, financial frauds have become more sophisticated with numerous tactics used in order to fool victims. Of late, a lot of people have fallen prey to scams. According to statistics of the Royal Thai Police, financial frauds caused more than 31 billion Baht in damage to the public nationwide from March 2022 to March 2023. This includes losses of up to 3.6 billion Baht from phone-call frauds and installation of money-stealing scam apps, plus more than 1.1 billion Baht lost from loan swindles, and more than 7 billion Baht lost from requests to freeze 'mule' accounts. KBank sees the prevention of financial threats as an important national agenda that requires cooperation from all sectors. The human element is most important, as fraudsters tend to rely on the fear, unawareness, or greed of victims in order to lure them through various tricks. As new scams are proliferating every day, KBank has launched the #UpdateSATIToProtectSATANG campaign to offer customers and the public knowledge of these frauds. They are also invited to promote such knowledge in order to create a shield against financial threats."


          The #UpdateSATIToProtectSATANG campaign is the continuation of the #UseSATIToProtectSATANG campaign that KBank initiated in 2019 to provide information and promote awareness of cyber scams. In 2023, KBank will press ahead with the release of video campaigns to promote wider awareness of three common frauds, which have caused victims to lose money and/or even resulted in cases being filed against them. The video clips include: (1) money-stealing apps; (2) loan broker scams; and (3) fraudsters' use of nominees to open bank accounts or “mule" accounts. As evidenced, these financial scams have occurred extensively. Many people may have become victims themselves, or have learned about these frauds from others or news reports. However, new fraud cases continue to occur. Due to the various tricks developed by fraudsters, those who have no relevant knowledge may fall victim. It is thus essential to create awareness of financial frauds among family and friends, relatives and employees as well as to avoid potential damages. KBank wishes to take part in providing knowledge and security tips. The Bank is offering interested agencies and companies useful materials, which can be distributed to employees or members of the public free of charge. The #UpdateSATIToProtectSATANG clips as well as the online guide on various forms of financial scams and prevention guidelines are available to download on the website, https://kbank.co/41NmBTW.